NFT Aggregator Vaults
The user can stake Partner and/or Treasure Hunt Prize NFT in NFT Aggregator Vaults for staking rewards.
- The user stakes the NFT
- NFT goes to Pi Protocol Staking Contract
- Pi Protocol Staking Contract will sell X amount of tokens based on Assigned NFT Value into BNB
- Pi Protocol Staking Contract buys CAKE/BNB pair with BNB
- Pi Protocol Staking Contract stakes CAKE/BNB pair on Pancakeswap Farms
The user does not have to stake on Pancakeswap because Pi Protocol Staking Contract stakes on the user’s behalf and “lends” the money needed to buy the CAKE/BNB pair to provide free rewards to the user.
If the user decides to unstake or withdraw the NFT from the NFT Aggregator Vaults, the following steps will happen:
- Pi Staking Contract unstakes CAKE/BNB pair on Pancakeswap Farms
- Pi Staking Contract sells CAKE/BNB pair to BNB
- Pi Staking Contract buys PI Token using BNB
- The user gets back the NFT and additional staking rewards from CAKE/BNB staking
The Assigned NFT Values are:
- DeFi Magic Partner NFT: 60 PIP tokens
- BitCircle NFT: 60 PIP tokens
- Treasure Hunt NFT: 200 PIP tokens
- TCG World: 250 PIP tokens
Does Every User Need to Compound on the NFT Aggregator Vaults?
No, someone in Pi Protocol team will do that daily.
Last modified 1yr ago